Today’s success tip comes from Craig Turnbull.

As a best-selling author and multi-millionaire property investor, Craig is one of the most in-demand educators in the country.

You are well-acquainted with just about all property investment strategies, is any one really better than another?

There are so many ways to make money from real estate, such as renovating, flipping, developing, positive cash flow, negative gearing, and buy and hold, to name just a few. And there are just as many people out there telling you that the way they favour investing in property is the only way to go.

That concerns me because what they are really saying is that everyone is the same in their financial goals, knowledge, income, age, time availability, cash, equity and so on. But if you have no cash and no borrowing capacity, how can a negative gearing strategy work for you? If you have a high income with plenty of cash and not much time, then a long term buy and hold strategy with negative gearing might suit you. People who have a lot of time commitments may be at a disadvantage in time-intensive strategies like renovating. And people who want to get into property development need a lot of knowledge, planning and research skills.

Each strategy has its own strengths and weaknesses. It is imperative that you choose one, or possibly two strategies that you can become very, very good at and make your wealth grow that way. I found that trying to use too many strategies split my focus and I ended up causing myself some grief.
 

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